BItcoin: The path to $10,000,000 ten million dollars per coin

[HardFacts]

You would have said the same when it was $0.01 cents.

Me: Bitcoin: The path to $10,000 ten thousand a coin.

You can get very rich in a Bubble 💰💰💰💰

People got rich in Bernie Madoff's pyramid scheme, people got rich in the .com bubble, but even more lost it all when the bubble popped.   Once the market psyche of Bitcoin starts to change, and people no longer believe that the price is going to the moon, you will see selling on an EPIC scale... And resulting price drops that you did not think possible.   No one that thinks they are going to get rich by trading in a bubble will face reality until reality punches them in the face  😭😭😭😭

Hard Facts

[icewitch0612]

10 million is impossible, but 1 million is close to reality.

[patroncito]

You would have said the same when it was $0.01 cents.

Me: Bitcoin: The path to $10,000 ten thousand a coin.

You can get very rich in a Bubble 💰💰💰💰

People got rich in Bernie Madoff's pyramid scheme, people got rich in the .com bubble, but even more lost it all when the bubble popped.   Once the market psyche of Bitcoin starts to change, and people no longer believe that the price is going to the moon, you will see selling on an EPIC scale... And resulting price drops that you did not think possible.   No one that thinks they are going to get rich by trading in a bubble will face reality until reality punches them in the face  😭😭😭😭

Hard Facts

***WRONG***[/size]

People have been saying that Bitcoin is a bubble since it was $10 dollars. That is no longer a valid argument.

IF Bitcoin is a bubble for you then short it.

[LenaCraft21]

дyмaю 10 000 000$ этo cлишкoм мнoгo

[patroncito]

SELL BITCOIN. Buy a house, a car, a slut and keep fiat for your retirement.
SELL NOW BEFORE BITCOIN GOES TO $0 or it will result in Great Misery.
DO IT!

FTFY  


FYI:
Even Bitcoin Supporters think you are a nutjob, patroncito.
And that says something.  

FYI2:
Just as most people no longer buy gold, because paying $50 for a gram (size of a postage stamp) just makes you feel poor.
People won't bother with buying satoshis to just hodl.
Once you exceed the $500 price per coin you started excluding the majority of the world's populace.

https://news.gallup.com/poll/166211/worldwide-median-household-income-000.aspx

Worldwide, Median Household Income About $10,000

No one in their right mind will spend a year's pay on a crypto coin with no guaranteed support level.
Bitcoin has no guarantees that it's price won't go to $0 .

Plus while Bitcoin may currently hold the #1 spot on CMK by market cap,
Tether has dethroned bitcoin by having a larger trading volume ~ every day all year long.
https://coinmarketcap.com/currencies/volume/monthly/

 

Damn, I have never read so much stupidity in one single post.


Fiat?, real estate, TETHER?. Wow.

Are you a banker? a tether dev?

You are DOOMED with that strategy

[DarkDays]

As long as people trust fiat money, bitcoin cannot be worth $10,000,000.

In most places if you want to buy a house or food, you need fiat. For such a high price, anyone who holds bitcoin will unfortunately want to sell. 

For bitcoin to be worth that much, it needs to be used exclusively for crypto-crypto trade.

Well, actually that probably isn't the case. I'm not saying that Bitcoin will ever reach $10 million per coin, but if by some miracle it does, then the number of people who actually own a whole Bitcoin will be significantly reduced compared to today.

Likewise, it can be safely assumed that those who do have a whole Bitcoin at the time, probably didn't hold it from now until then, meaning they didn't experience the more than 100 fold gains required to get there.

That being said, a lot of holders will sell out between now and then, but anybody who bought Bitcoin at $10m will have no incentive to sell it at the same price, unless they're simply transacting with it, which is what would likely be the case at that scale.

[darkygirl]

just so much rubbish and nonsense in one discussion... i don't think it can happen at any circumstances

[diahsw]

absolutely right, it is our hope all here, if it really happened, then surely bitcoin hunters will be more and more .. !!

[slashz9]

Ten more years for 10 million $ per coin is too much, yes, even though I agree that bitcoin is a substitute for fiat currency, which is likely to be replaced by bitcoin.
I think people will still think of other alternatives before running to bitcoin such as gold, silver, or other long-standing commodities.

[iram3130]

Lots of chaos as well as lots of BS in one discussion, I guess its ok to out your opinion but just dont go out of bounds.

I guess everything depends on Satoshi, when I think of price reaching that high, he might come back or do something. Not necessarily supportive with common people. Hopefully, we will see a day where world is using Bitcoin as currency.

[EdenHazard]

Lots of chaos as well as lots of BS in one discussion, I guess its ok to out your opinion but just dont go out of bounds.

I guess everything depends on Satoshi, when I think of price reaching that high, he might come back or do something. Not necessarily supportive with common people. Hopefully, we will see a day where world is using Bitcoin as currency.

+1

 $10 million dollar per coin maybe sounds like incredibly non sense ( at least for now ) and could bring chaotic into our current traditional financial world .
But who knows later in the future having a currency that worth millions dollar per 1 coin is something ordinary, everyone get used to it already and things just fine with it , who knows right? We can't imagine that now the same thing like we never imagined that Graham bell invented practical telephone , the same thing like we never imagined a world with internet as a primary need in our daily life.
Things changed fast , bitcoin with its revolutionary financial system could do that too.

[Ann1989]

Bitcoin is designed to be more scarce every single day while the population is almost required to increase its demand. Why? Because people will have to sell their failed fiduciary currencies per Bitcoin. The current financial system failed already and people will realize that Bitcoin is the only system to reset everything. Governments will try to create their centralized cryptocurrencies that will fail like the fiat due to hacks and the fact that people will prefer to use Bitcoin. Bitcoin is a blackhole that is swallowing every single fiat bill. 10 million dollars per coin is probably too conservative. People who dont own Bitcoin now will have to own in it later. Those who are acummulating BTC right now will be the richest people in the world. Bitcoin should hit that price in the next 10 years and there is nothing that could stop it.

The way I see it now, Bitcoin will exist alongside fiat and will probably be regulated.

[patroncito]

Bitcoin is designed to be more scarce every single day while the population is almost required to increase its demand. Why? Because people will have to sell their failed fiduciary currencies per Bitcoin. The current financial system failed already and people will realize that Bitcoin is the only system to reset everything. Governments will try to create their centralized cryptocurrencies that will fail like the fiat due to hacks and the fact that people will prefer to use Bitcoin. Bitcoin is a blackhole that is swallowing every single fiat bill. 10 million dollars per coin is probably too conservative. People who dont own Bitcoin now will have to own in it later. Those who are acummulating BTC right now will be the richest people in the world. Bitcoin should hit that price in the next 10 years and there is nothing that could stop it.

The way I see it now, Bitcoin will exist alongside fiat and will probably be regulated.

Bitcoin is impossible to regulate my friend. Banks, central banks and governments are doomed. They would go bankrupt even trying it.

There will be a point in time where everybody will realize that Bitcoin is a blackhole that is everywhere and cannot possibly be stopped.

Fiat will disappear because it will be worth nothing against Bitcoin.

Everybody will HAVE TO use Bitcoin.

[patroncito]

One should ask oneself, If bitcoin will make me rich ,

Why are so many miners going Bankrupt?  

https://www.cbc.ca/news/canada/newfoundland-labrador/great-north-data-bankrupt-1.5383713

Great North Data hosted bitcoin mining operations and processed artificial intelligence algorithms at facilities in Labrador City and Happy Valley-Goose Bay.

According to bankruptcy documents filed late last month, the company listed $13.2 million in liabilities against just $4.6 million in assets.

The federal and provincial governments are owed some of that cash.

The Atlantic Canada Opportunities Agency (ACOA) is an unsecured creditor for $281,675.

The Newfoundland and Labrador government's Business Investment Corporation is owed $313,718.
That amount is secured by Great North Data's building and land in Labrador City, and machinery and equipment.

FYI: The Four B's,  
Bitcoin
Bubble
Burst
Bankruptcies

ahaha what a joke.

[Dabs]

Actually, Hal Finney predicted 10 years ago that bitcoin could reach $10 million per coin. His assumptions were if the entire world M1 (or cash equivalent) would move over to bitcoin or about $300 trillion or something.

Still, that's going to take at least a couple of decades, so maybe 2040 or 2050 we can revisit this thread and see what has happened.

[patroncito]

Actually, Hal Finney predicted 10 years ago that bitcoin could reach $10 million per coin. His assumptions were if the entire world M1 (or cash equivalent) would move over to bitcoin or about $300 trillion or something.

Still, that's going to take at least a couple of decades, so maybe 2040 or 2050 we can revisit this thread and see what has happened.

YES YOU ARE RIGHT, I fkn forgot about that post from Hal Finney...OMG.

But, we are getting to 10 million per coin waaaay before those years.

[odolvlobo]

Actually, Hal Finney predicted 10 years ago that bitcoin could reach $10 million per coin. His assumptions were if the entire world M1 (or cash equivalent) would move over to bitcoin or about $300 trillion or something.
Still, that's going to take at least a couple of decades, so maybe 2040 or 2050 we can revisit this thread and see what has happened.

YES YOU ARE RIGHT, I fkn forgot about that post from Hal Finney...OMG.
But, we are getting to 10 million per coin waaaay before those years.

I believe that you are referring to the post in which he considers the possibility of Bitcoin replacing all the wealth of the world. Simply stated, he is wrong because money can't do that. He is conflating the "store of value" and "unit of account" aspects of money. For example, a house that you own has a value that is part of your wealth, but the house cannot not be replaced by Bitcoin.

It is also a mistake to compare Bitcoin to M1, M2, etc. because those money supply values include the result of fractional reserve banking. The correct comparison is the global monetary base. Matthew Mežinskis and Fernando Ulrich (cryptovoices.com) have done a lot of work along these lines and have come up with a maximum potential value of the Bitcoin money supply -- about 19 trillion USD, or about 900 thousand USD per bitcoin. Keep in mind that those values assume that Bitcoin will replace all of the money, which is not likely to ever happen. Note also that the values do not account for future economic growth and lost bitcoins.

[patroncito]

Actually, Hal Finney predicted 10 years ago that bitcoin could reach $10 million per coin. His assumptions were if the entire world M1 (or cash equivalent) would move over to bitcoin or about $300 trillion or something.
Still, that's going to take at least a couple of decades, so maybe 2040 or 2050 we can revisit this thread and see what has happened.

YES YOU ARE RIGHT, I fkn forgot about that post from Hal Finney...OMG.
But, we are getting to 10 million per coin waaaay before those years.

I believe that you are referring to the post in which he considers the possibility of Bitcoin replacing all the wealth of the world. Simply stated, he is wrong because money can't do that. He is conflating the "store of value" and "unit of account" aspects of money. For example, a house that you own has a value that is part of your wealth, but the house cannot not be replaced by Bitcoin.

It is also a mistake to compare Bitcoin to M1, M2, etc. because those money supply values include the result of fractional reserve banking. The correct comparison is the global monetary base. Matthew Mežinskis and Fernando Ulrich (cryptovoices.com) have done a lot of work along these lines and have come up with a maximum potential value of the Bitcoin money supply -- about 19 trillion USD, or about 900 thousand USD per bitcoin. Keep in mind that those values assume that Bitcoin will replace all of the money, which is not likely to ever happen. Note also that the values do not account for future economic growth and lost bitcoins.

WRONG

Central Banks are increasing the money supply by billions every single day.

There is a misunderstanding regarding a market cap.

It does not matter what is the world money supply, the market cap is just the amount of units available x price. If someone buys a Bitcoin from someone else @10 millon dollars...thats it...Now that is the market and 10 millons x 21m coins= market cap

Therefore, the total money supply and global weath amount have NOTHING to do with market cap

[Argoo]

Bitcoin is designed to be more scarce every single day while the population is almost required to increase its demand. Why? Because people will have to sell their failed fiduciary currencies per Bitcoin. The current financial system failed already and people will realize that Bitcoin is the only system to reset everything. Governments will try to create their centralized cryptocurrencies that will fail like the fiat due to hacks and the fact that people will prefer to use Bitcoin. Bitcoin is a blackhole that is swallowing every single fiat bill. 10 million dollars per coin is probably too conservative. People who dont own Bitcoin now will have to own in it later. Those who are acummulating BTC right now will be the richest people in the world. Bitcoin should hit that price in the next 10 years and there is nothing that could stop it.

The way I see it now, Bitcoin will exist alongside fiat and will probably be regulated.

Bitcoin is impossible to regulate my friend. Banks, central banks and governments are doomed. They would go bankrupt even trying it.

There will be a point in time where everybody will realize that Bitcoin is a blackhole that is everywhere and cannot possibly be stopped.

Fiat will disappear because it will be worth nothing against Bitcoin.

Everybody will HAVE TO use Bitcoin.

This is all just phantasies. I think that bitcoin will never rise in price above $ 50,000. The demand for bitcoin will grow, however, it still will not be able to lead to such a high price.
Also, banks and national money of states will not disappear anywhere. They are under the powerful protection of the state, and a decentralized cryptocurrency does not represent a danger to them.

[odolvlobo]

Actually, Hal Finney predicted 10 years ago that bitcoin could reach $10 million per coin. His assumptions were if the entire world M1 (or cash equivalent) would move over to bitcoin or about $300 trillion or something.
Still, that's going to take at least a couple of decades, so maybe 2040 or 2050 we can revisit this thread and see what has happened.

YES YOU ARE RIGHT, I fkn forgot about that post from Hal Finney...OMG.
But, we are getting to 10 million per coin waaaay before those years.

I believe that you are referring to the post in which he considers the possibility of Bitcoin replacing all the wealth of the world. Simply stated, he is wrong because money can't do that. He is conflating the "store of value" and "unit of account" aspects of money. For example, a house that you own has a value that is part of your wealth, but the house cannot not be replaced by Bitcoin.

It is also a mistake to compare Bitcoin to M1, M2, etc. because those money supply values include the result of fractional reserve banking. The correct comparison is the global monetary base. Matthew Mežinskis and Fernando Ulrich (cryptovoices.com) have done a lot of work along these lines and have come up with a maximum potential value of the Bitcoin money supply -- about 19 trillion USD, or about 900 thousand USD per bitcoin. Keep in mind that those values assume that Bitcoin will replace all of the money, which is not likely to ever happen. Note also that the values do not account for future economic growth and lost bitcoins.

WRONG
...

Don't be an ass. I may make some assumptions that you don't agree with, but that does not make me wrong.

I assume that Bitcoin is (or will be) a form of money, and that people will value it as a money. That is why I think it is valid to equate its value to the other monies in the world.

In contrast, you have yet to support your $10 million valuation by anything more than fantasy, wishful thinking, and irrational exuberance.